After the slight price decrease of €5/mt recorded for most categories at the beginning of April, the situation in the local Italian scrap market has remained unchanged. Market sources report that scrap demand looks a bit better this week before Easter, especially in terms of demand from rebar producers for low-quality scrap.
At the same time, scrap availability does not appear to be at high levels. As previously reported, local steelmakers will take advantage of the upcoming holiday to make production stoppages. As for May, there are two hypothetical scenarios among local sources: steelmakers could go back to full production, causing a strengthening of scrap demand and, consequently, of scrap prices; otherwise, if further production stoppages occur, scrap prices may weaken again.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
225-235 ($254-266/mt) |
|
HMS (E1/E3) |
250-260 ($283-294/mt) |
|
Shredded scrap (E40) |
280-285 ($316-322/mt) |
|
Busheling (E8) |
285-295 ($322-333/mt) |
Prices include delivery and exclude VAT.
€1 = $1.13